Allianz raises full-year forecasts after favorable quarterly showing

FRANKFURT--German insurance giant Allianz said Tuesday it was raising its full-year profit targets after a better-than-expected third quarter.

"Allianz Group achieved an operating profit of 2.5 billion euros (US$3.2 billion) in the third quarter due to a better-than-expected performance across all segments, especially in asset management," Allianz said in a statement.